Day: February 7, 2025

Global LNG: Asian spot LNG prices at two-month high tracking EU gas rally

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LNG

LONDON: Asian spot liquefied natural gas (LNG) prices hit a two-month high this week, tracking a rally in European gas prices, despite subdued Asian demand due to healthy inventories. The average LNG price for March delivery into north-east Asia was at $14.90 per million British thermal units (mmBtu), the highest since early December and up from $13.80/mmBtu last week, industry sources estimated. “Bullish prices are expected to continue in the week ahead supported by colder weather and supply disruptions at the 16.3 mtpa (million tonnes per annum) North West Shelf…

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Chinese turbine maker strikes Pakistan wind power pact

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wind power

Mingyang will supply one hybrid wind, solar and energy storage facility and another wind farm under terms of deal Mingyang has struck a deal to supply two wind power projects in Pakistan during a visit of the country’s president to China. Pakistan’s President Asif Ali Zardari witnessed the signing of a strategic cooperation agreement between Mingyang and the energy department of the southern province of Sindh, the OEM announced today.

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PV-Powered EVs Can Extend Range by 30%, Study Finds

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electric-vehicles

Researchers from Germany and the Netherlands have demonstrated that integrating photovoltaic (PV) modules into light commercial electric vehicles (EVs) can increase driving range by up to 30%. Their findings, based on a four-month study, were recently published in Progress in Photovoltaics. The research involved mounting PV panels on a StreetScooter Work L EV and analyzing its energy performance during daily commutes between Hannover and the Institute for Solar Energy Research Hamelin (ISFH). The system included 2,180 W of M2 wafer silicon PV modules, with panels placed on the roof (875…

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Global LCOE of Grid-Scale Solar to Drop 2% in 2025: Bloomberg NEF

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soalr energy

A new report from BloombergNEF forecasts a continued decline in the levelized cost of electricity (LCOE) for grid-scale solar and battery energy storage globally in 2025. LCOE, a key metric for comparing energy technologies, measures the lifetime cost of a power plant divided by its total energy production. According to the report, the LCOE for fixed-axis utility-scale solar projects is expected to drop 2% year-over-year, falling from $36 per megawatt-hour (MWh) in 2024 to $35 per MWh in 2025. BloombergNEF projects a further decline to $25 per MWh by 2035,…

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Barrick’s Gold Reserves Surge with Reko Diq Expansion

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Reko-Diq

BENGALURU: Canadian mining giant Barrick Gold reported a 23% increase in its proven and probable gold reserves, reaching 17.4 million ounces by the end of 2024. The surge was primarily driven by the company’s Reko Diq copper-gold project in Pakistan. Following the completion of its feasibility study at Reko Diq, Barrick added 13 million ounces of gold to its probable reserves on an attributable basis. The company holds a 50% stake in the project, while the remaining ownership is shared by the governments of Pakistan and Balochistan. Considered one of…

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